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Reinsurance News
Insurance and reinsurance technology related news, focused on the wave of interest in InsurTech start-ups, investing in insurance technology initiatives, as well as reinsurance tech start-ups or ReinsurTech.
9th October 2019
Talanx Group, the parent of reinsurance giant Hannover Re, has entered into a strategic partnership with New York-based intelligent automation and robotic process automation software firm, WorkFusion. It’s hoped the agreement will accelerate end-to-end digitisation of core business processes, starting with HDI Germany. “We are thrilled to partner with Talanx Group and ... Read the full article
8th October 2019
RGAX, a subsidiary of Reinsurance Group of America, Incorporated, has partnered with primary carrier Mutual of Omaha to explore reinsurance workflows powered by blockchain technology. The parties completed a proof of concept that the allowed them to experiment with the automation of reinsurance transaction using distributed ledger and smart contract technology. The ... Read the full article
8th October 2019
Global reinsurer Munich Re has extended its partnership with FRISS, an AI-powered fraud and risk solution provider for the property & casualty insurance sector. This move will see Munich Re and FRISS build on work that has already been done in Latin America and Iberia, offering fraud and risk mitigation support ... Read the full article
7th October 2019
Reinsurance giant Munich Re has invested $250 million in Next Insurance, an online insurance platform designed for small to medium sized businesses. The German reinsurer was the sole investor in Next Insurance’s Series C funding round, which valued the small-business insurance start-up at more than $1 billion. Based in Palo, Alto, California, ... Read the full article
7th October 2019
The Global Insurance Accelerator (GIA), an insurtech-focused business accelerator, has announced changes to its funding structure beginning with the 2020 cohort of start-ups. Notably, the GIA has nearly doubled the seed funding investment granted to successful applicants, boosting it from $40,000 to $75,000 via a post-money Simple Agreement for Future Equity ... Read the full article
4th October 2019
The Hartford Steam Boiler Inspection and Insurance Company (HSB), part of reinsurance giant Munich Re, has announced a new customised Internet of Things (IoT) solution for schools. HSB Connected Technologies is designed to monitor buildings and equipment 24/7 to protect against water leaks, freezing pipes, mold, and perishable goods spoilage. The solution’s ... Read the full article
3rd October 2019
Munich Re Automation Solutions Ltd, an insurtech specialist and subsidiary of the Munich Re group, has announced that Swedbank Försäkring has gone live with its digital underwriting solution, ALLFINANZ. The successful installation of ALLFINANZ will create a platform for innovation for Swedbank Insurance business, the parties explained. Swedbank AB is a Nordic-Baltic ... Read the full article
30th September 2019
Bermuda-based property and casualty re/insurer, Sompo International has expanded its partnership with life science and healthcare data analytics firm Pharm3r in a move aimed at enhancing its US life sciences risk modelling capabilities. Pharm3r’s data services are already leveraged by Sompo’s Bermuda excess casualty unit. Now, Its data sets and analytics will ... Read the full article
27th September 2019
McKenzie Intelligence Services (MIS), a provider of imagery and geospatial intelligence, has been highlighted by Lloyd’s as a key component of its ongoing modernisation drive. Back in May, Lloyd’s announced a new strategy focused on delivering higher quality risk protection for the market’s clients. The six proposed transformational initiatives contained within ... Read the full article
25th September 2019
Global re/insurance broker Aon has announced the launch of ClaimsMonitor.X, an artificial intelligence-driven platform that can quickly analyse claims notes and provide insights into an insurer’s efficiency and profitability. The platform, available to insurers in the US and Canada, has been developed in collaboration with CLARA analytics, a provider of AI ... Read the full article
25th September 2019
U.S. primary insurer Travelers has announced the launch of a new high-resolution aerial imaging capability that enables agents and brokers to assess property damage immediately following a catastrophe event. Travelers Catastrophe Map Viewer will provide a before-and-after photographic comparison within one or two days after an event – normally before anyone ... Read the full article
25th September 2019
Re/insurance industry body the Chartered Insurance Institute (CII) has argued that the profession should engage with the public to reach a consensus on what constitute a responsible use of artificial intelligence (AI) and data. The recommendation follows a report for the Centre for Data Ethics and Innovation, which examined the potential ... Read the full article
25th September 2019
Global re/insurance brokerage Marsh has announced plans to pilot a new digital placement platform powered by blockchain technology, called Risk Exchange. The Risk Exchange concept was proposed by a winning Marsh hackathon team and further developed in Marsh Digital Labs. The broker believes the platform has the potential to transform the insurance ... Read the full article
19th September 2019
Nephila Syndicate Management Ltd (NSML) has selected the suite of finance and accounting products from software provider Phinsys to help streamline its financial processes and automate statutory, regulatory and management reporting. Nephila Syndicate 2357 is set to migrate from third party management to its own independent managing agency in October, and ... Read the full article
19th September 2019
Vouch Insurance, a new insurance company focused on early stage tech start-ups, has announced its launch, with capacity for its policies to be provided by Munich Re. Using an entirely digital platform, Vouch will offer proprietary insurance products and risk assessment tools designed specifically for high growth companies. Vouch also revealed that ... Read the full article
